Domo (NASDAQ:DOMO) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Domo (NASDAQ:DOMO) from a hold rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.

A number of other brokerages also recently issued reports on DOMO. DA Davidson reaffirmed a “neutral” rating and issued a $3.50 price objective on shares of Domo in a research report on Tuesday, June 16th. Stephens cut shares of Domo from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $5.00 to $4.00 in a research report on Thursday, July 23rd. Cantor Fitzgerald downgraded shares of Domo from an “overweight” rating to a “hold” rating and set a $4.84 target price for the company. in a research note on Thursday, July 23rd. TD Cowen lowered shares of Domo from a “buy” rating to a “hold” rating and cut their price target for the stock from $6.00 to $3.25 in a report on Tuesday, June 16th. Finally, Citigroup reiterated a “market underperform” rating on shares of Domo in a report on Monday, August 17th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Domo presently has a consensus rating of “Reduce” and an average price target of $3.95.

Domo Stock Up 2.3%

Shares of DOMO stock opened at $3.92 on Friday. The company’s 50 day moving average is $3.72 and its 200 day moving average is $3.56. The firm has a market cap of $176.99 million, a price-to-earnings ratio of -2.95 and a beta of 1.76. Domo has a 52-week low of $1.84 and a 52-week high of $18.49.

Domo (NASDAQ:DOMO) last announced its earnings results on Thursday, September 3rd. The company reported ($0.21) earnings per share (EPS) for the quarter. The business had revenue of $76.78 million during the quarter, compared to analyst estimates of $78.06 million. Analysts anticipate that Domo will post -1.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Daren Thayne sold 52,365 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $124,628.70. Following the transaction, the executive vice president directly owned 498,051 shares of the company’s stock, valued at approximately $1,185,361.38. This represents a 9.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joshua James sold 96,088 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $2.38, for a total value of $228,689.44. Following the completion of the transaction, the chief executive officer owned 1,638,873 shares of the company’s stock, valued at approximately $3,900,517.74. The trade was a 5.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 216,936 shares of company stock valued at $516,308. Insiders own 13.25% of the company’s stock.

Hedge Funds Weigh In On Domo

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in Domo in the second quarter valued at $305,000. Bank of America Corp DE boosted its position in Domo by 41.1% during the first quarter. Bank of America Corp DE now owns 55,048 shares of the company’s stock worth $168,000 after purchasing an additional 16,029 shares in the last quarter. Quantinno Capital Management LP grew its holdings in Domo by 362.4% in the first quarter. Quantinno Capital Management LP now owns 61,535 shares of the company’s stock valued at $188,000 after purchasing an additional 48,226 shares during the period. RPD Fund Management LLC increased its position in shares of Domo by 27.3% in the first quarter. RPD Fund Management LLC now owns 4,613,726 shares of the company’s stock valued at $14,118,000 after buying an additional 990,326 shares in the last quarter. Finally, Rangeley Capital LLC purchased a new stake in shares of Domo in the first quarter valued at approximately $80,000. 76.64% of the stock is currently owned by institutional investors and hedge funds.

Domo Company Profile

Domo, Inc (NASDAQ: DOMO) is a cloud-based software company that specializes in business intelligence and data analytics. The company’s flagship product, the Domo Business Cloud, provides organizations with an end-to-end platform to integrate, visualize and analyze data from a wide array of sources. By unifying disparate data feeds into interactive dashboards and custom applications, Domo enables real-time insights that inform decision-making across all levels of an enterprise.

Founded in 2010 by Josh James, Domo is headquartered in American Fork, Utah, and operates offices across North America, Europe and Asia Pacific.